INDIANAPOLIS — There are two words that could stand in the way of Caleb Downs coming to the Giants at the No. 5 pick in the 2026 draft:
Positional value.
Say it louder for those in the back:
Positional value.
Downs, you see, is a safety, and when teams prioritize where they need to invest with draft picks and how they need to allocate salary cap space, that position is almost always in the lower half of depth chart considerations.
“Positional value is kind of a little bit new, but you always knew that quarterbacks are really important,” head coach John Harbaugh said at the NFL Scouting Combine. “We always knew that corners are really important, especially if you’re playing man coverage.
“You’ve got to put as many good football players as you can out there, so you don’t want to sacrifice a really good player because it’s not a need or a value position. They’re all important.”

Downs could be the exception to the long-standing history of safeties having to wait around before hearing their name called up high in the first round.
The last safety to go in the top 10 was Jamal Adams, to the Jets at No. 6 in 2017. Sean Taylor went No. 5 in 2004 to Washington and Eric Berry No. 5 to the Chiefs in 2010. Eric Turner went No. 2 overall in 1991, to the Browns, the highest for a safety in the modern era of pro football.
When a team needs help on defense, edge rushers and cornerbacks fly off the board — there’s that positional value. Downs is going to break the mold April 23, as some team is going to write his name on the card early in the first round. Will it be the Giants?
General manager Joe Schoen certainly does not discount positional value — remember his stances on a running back (Saquon Barkley) and a safety (Xavier McKinney). But those were free agent negotiations, not draft equity. And now, with Harbaugh heavily involved, the draft decisions could sway toward his line of thinking.
Still, for the Giants to take Downs at No. 5, they would have to view him as something more than a safety. They would have to view him the way he views himself.
“At the end of the day, it’s who’s the best defender,” Downs said Thursday. “It’s not really positional value, it’s who affects the game. If you affect the game in a lot of ways, that’s what’s most important. At the end of the day, my film is what it is and they’re gonna make a decision based off that.”
So, does Downs believe he is the best defensive player in this draft?
“Yeah, I feel confident every time I step on the field,” he said, “so if I would say that I walked on the field and I thought anybody was better than me, yeah, that’s not true.”
There is evidence to suggest his self-assessment is on the money. Two of his Ohio State teammates, edge rusher Arvell Reese and traditional linebacker Sonny Styles, are also high first-round projections. Styles and Downs make the most sense for the Giants.
At safety, the Giants have veteran Jevon Holland and 2024 second-round pick Tyler Nubin returning, with Dane Belton set to become a free agent. Harbaugh last week said he is a “big, big fan” of Downs and, “If we have a chance to draft a potential future Hall of Fame safety in Caleb Downs, that would be just fine with me.”
As a defensive backs coach with the Eagles, Harbaugh worked with Brian Dawkins, and his Ravens defenses featured Ed Reed and Kyle Hamilton, so he knows his way around top talent and playmaking at the safety position.
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Comfortable playing up near the line of scrimmage as a box safety, the 6-foot, 205-pound Downs also has talent as a big nickel corner. He led the SEC with 70 solo tackles in 2023 at Alabama before transferring to Ohio State.
He was not quite as productive for the Buckeyes, but his stock is high and his pedigree is rare. His father, Gary, was a 1994 Giants third-round pick, a running back out of North Carolina State. His uncle, Dre Bly, was an NFL cornerback for 11 years. His older brother, Josh, has 140 receptions and seven touchdowns in his first two seasons as a Colts wide receiver.
“My brother set the tone for me in a lot of ways … kind of allowed me to believe in myself, knowing I can do it,” said Downs, who was all business at his media podium session. “And my dad, I grew up around a lot of his old NFL friends, so people always ask ‘Did you ever think you weren’t going to be able to do it?’ No. I was around everything I needed to be around, and it never was a thought, like, ‘Am I going to be able to do it?’ It was kind of just like, ‘I’ll get there at some point.’ ”
That point is almost here.